Tesla AI Day 🌐, Facebook's Novi Wallet , TikTok's Social Commerce Play

1.) Facebook's Digital Asset Wallet, Novi

Facebook is preparing Novi, previously called Calibra, a new digital wallet for its launch as the company's previous payment platform Libra received mostly negative responses from lawmakers and regulators.

When Libra published its first Libra framework in 2019, the use case was to address the unbankable in developing world and the high cost of remittances imposed by big banks and financial services companies.

Will Diem, the new name for LIbra solve this cross-border payments problem and truly change how people and businesses transact around the world? Comparing Paypal and Snapcash by Square, we believe the Diem network is a leaner and more powerful payment systems that is solving remittances problems in the developing world.

Goodbye Paypal's 2.9 percent plus $0.30 fee.

2) Pinduoduo's Social Commerce Play

This week, Pinduoduo (PDD) traded up more than 27% after the company announced a 10 billion yuan investment to support AgriTech and improve the productivity and livelihood of farmers in rural China. Although there are concerns that the Chinese government's campaign to regulate Big Tech in China, Pinduoduo's move to modernize China's agricultural industry and alleviating poverty could be a strategic move to improve its relationship with the Chinese government and more importantly building an interactive social e-commerce platform that connects its current 725 million monthly active users, a 50% year-on-year increase since its latest 2021 Q1 filings.

3) TikTok's partnership with Shopify

Recently TikTok has announced a partnership with Shopify to allow consumers to shop directly in the TikTok App. As social commerce in still in its early stages connecting consumers, platforms and retailers, we believe social media platforms like Instagram can utilize data to not only drive authentic engagement but personalize shopping experiences.

For instance, 60% Instagram's one billion daily users say they use the platform to discover new products and over 140 million businesses are already connecting with customers and prospects.

With the reach of Tiktok's 1 billion monthly active users, Singuar believes this move could unlock a new channel for retailers to sell directly to a global customer base and for customer to reach the "Long Tail", coined by Chris Anderson on how the powerful new force in our economy can help niche players around the world as the cost of reaching consumers drops dramatically.

4) Tesla's Unveils D1 Chip during AI Day

During Tesla' AI day, Tesla finally revealed it's custom-built AI training super company called Dojo. With Tesla's AI stack from training its most powerful supercomputer capable of handling up to 1 exaflop of performance, Tesla could be we positioned to beats its current competitor Waymo and other traditional car companies with its D1 chip.

Tesla's D1 chip is built entirely in-house and is the main System-on-Wafer two times more powerful that today's GPU-accelerated supercomputer system developed by Fujitsu Japan called Fugaku. Although Fugaku's supercomputer was dethroned by Tesla, we believe Dojo will greatly benefit from Tesla's integrated fleet of automobile to become the most integrated automotive company in the world as D1's AI chip could accelerate Tesla's vision of full autonomy.

Although tech giants like Nvidia, Baidu are already building ASICs for AI workload, Tesla novel approach to training its silicon and labeling it using Dojo's neural network design could put Tesla ahead of it's direct competitor Waymo.